Lookin' For a Low

Hey traders,

After a large sell-off Friday, the question is, how are we looking going into next week?

We're using all technicals for this one with a sprinkle of economic news. Considering tariffs and deportations, "disruption" of goods, etc. I would say we are looking for more downside with the economic insecurity.

I expect the VIX or UVXY to start climbing, this may even be the start to the much needed 20% correction the market needs, but I'm not quite that ambitious yet.

Opening bell on Monday could be a DCB (Dead Cat Bounce), with a quick pop and drop type scenario. After all, it is the tail that wags the dog.

Looking for the low, long-term trend line dating back to October of 2023 would put us somewhere in the range of 578-581 and by the way, I think we're going even lower. That price, for now, is the target.

I'll keep it short and simple for this one, it's a pretty straight forward analysis. Overhead resistance, bearish sentiment, and a lingering correction.

Thanks for reading. 🙏